3 minute read 1 Aug 2022
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Budget reconciliation basics

By Washington Council Ernst & Young

Advisory services group that helps clients manage opportunities and risks associated with the legislative and regulatory process.

3 minute read 1 Aug 2022
Related topics Tax Tax planning

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Process allows 51-vote Senate passage of revenue and spending bills under certain parameters.

Budget reconciliation is a process that permits legislation impacting revenues and spending to pass the Senate with 51 votes rather than the 60-vote filibuster threshold for most other legislation. Spending, revenue, or the debt limit (though rare) may be addressed under reconciliation together or separately, but only once per budget resolution, and only one budget resolution can be approved for each fiscal year.

EY - Budget reconciliaiton

Summary

Reconciliation is a complicated process that can offer procedural advantages, particularly in a Congress with slim margins.

About this article

By Washington Council Ernst & Young

Advisory services group that helps clients manage opportunities and risks associated with the legislative and regulatory process.

Related topics Tax Tax planning

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